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Canacol Energy Ltd T.CNE

Alternate Symbol(s):  CNNEF

Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5 and VIM-21 blocks located in the Lower Magdalena Valley basin in Colombia. The Company’s production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. It operates over 1.5 million net acres in 14 exploration and production contracts in Colombia, with 11 of these contracts focused on exploring for and developing natural gas. These blocks are all located in the Lower & Middle Magdalena Basins of Colombia.


TSX:CNE - Post by User

Comment by mjh9413on Dec 23, 2023 4:54pm
319 Views
Post# 35799343

RE:RE:Gas Sales and Drilling Update and Announces Dividend

RE:RE:Gas Sales and Drilling Update and Announces DividendLet's see,down 1/6th from 2014 and less than 1/3rd what it was 5 years ago. That's a lot of $1 dividends (it started at 20cents or so until 2023 wasn't it.)   And can they afford it with no new cf prospects in sight just expenditures growing, This cud be the Company's last hurrah as the working capital negative will keep growing. .As I said before, just loan terms are aiding them keeping afloat, if afloat it is, but that's fools' gold. It is a stock to trade not at all to hold IMO. Beware more Gamba surprises. He's been there all time overseeing (with the BoD of course) capital being continuously eroded.
Hey, gamba can mean shrimp in Spanish, opossum in Portuguese and even the viola da Gamba, which might give more pleasant sounds, has been replaced and was called by Italians a "leg fiddle.' No kidding. Just facts. 
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